The video is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. Investors should carefully consider a Closed-end Fund's investment objective, risks, charges and expenses before investing. Investment return and principal value of an investment in the Fund will fluctuate; therefore, you may have a gain or loss when you sell your shares.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. You can obtain more information about the Fund by calling 1-800-GABELLI (1-800-422-3554). Closed-end funds involve risk for investors and are traded on the secondary market through a stock exchange. The closed-end fund's investment return and principal value will fluctuate so an investor's shares may be worth more or less than the original cost. Shares of Closed-end Funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. Discounts can widen or contract. There is no assurance that a Fund will achieve its investment objective and you can lose money by investing in a Closed-end Fund.

The Fund's net asset value ("NAV") per share will fluctuate with changes in the market value of the Fund's portfolio securities. Stocks are subject to market, economic, and business risks that cause their prices to fluctuate. Investors acquire shares of the Fund on a securities exchange at market value, which fluctuates according to the dynamics of supply and demand. The funds distribution policy is subject to approval by its board of directors and is not assured. The fund's industry sectors are not representative of the entire portfolio.

The Fund's use of leverage, which can be described as exposure to changes in price at a ratio greater than the amount of equity invested, through the issuance of preferred shares, magnifies both the favorable and unfavorable effects of price movements in the investments made by the Fund. The Fund's use of leverage in its investment operations subjects it to substantial risk of loss.

Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell shares, they
may be worth less than what you paid for them.